Ronald Boire has been named president and CEO of Sears Canada, after serving in the post on an interim basis since October following the departure of Douglas Campell. He served previously in top posts at Sears and Kmart in the US, and his resume also includes stints at Toys R Us and Best Buy.
Sears Canada could explore options similar to the deal announced Monday in which U.K. fashion retailer Primark will lease space in U.S. Sears stores, Sears Canada spokesman Vincent Power said. Canadian rival Hudson's Bay Co. has a similar deal with TopShop, and this year it turned 20,000 square feet at its Toronto flagship into a Kleinfeld Bridal boutique.
Sears Holdings has named Chief Merchandising Officer Ronald Boire as acting CEO for Sears Canada, replacing Douglas Campbell who resigned last month after a year in the post. Sears plans to sell most of its 51% stake in the Canadian chain to its shareholders, in a deal that will raise about $380 million.
EBay has partnered with brick-and-mortar retailers including Toys R Us, Macy's, Target and Best Buy to build mobile systems that facilitate in-store shopping. The move is designed to help eBay capitalize on in-store shopping, which still comprises about 95% of overall retail activity, analysts say.
Sears Canada will sell its 40% stake in the Medicine Hat Mall in Alberta for $43 million to partner Sleeping Bay Building Corp., the company said Wednesday. The retailer, which has operated a store there since 1978 and will remain at the mall as a tenant, also announced plans to pay a special $1 per share dividend.